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How Social Security Benefits Are Calculated, and the Cost of Early Retirement
(By - Matthew Frankel)
Unlike many retirement programs, such as pensions, Social Security is not calculated by applying a formula to your last few years’ earnings. What many people don’t understand is that Social Security takes decades of earnings into account, and applies different multipliers for different income levels. Here’s how your Social Security benefit is determined, and how you determine what early retirement could really cost. Read more…
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